23 November 2009

Two weeks ago as the Financial Reform Bill was wending its way through Congress, Paul Kanjorski emerged as the champion of breaking up too-big-to-fail financial institutions.  After seeing trillions of dollars in taxpayer money go to…

My post title is an ode to Yves Smith, who likes to feign surprise when the blindingly obvious finally comes into plain view for all to see. The latest sign that underneath the surface weakness remains at large financial institutions comes…

This story is on the front page of Business Week: Detroit Mayor Dave Bing is struggling to save his city from fiscal calamity. Unemployment is at a record 28% and rising, while home prices have plunged 39% since 2007. The 66-year-old…

Hat tip Prieur du Plessis.

Bruce Krasting: FDIC on REO Sales: Keep'em in the Dark! Greece tests the limit of sovereign debt as it grinds towards slump - Telegraph Economist's View: "What if a Recovery Is All in Your Head?" Rhodes pushback -…

This is a pretty wonkish post but I hope you appreciate the concepts presented. I made some allusions to modern monetary theory in a recent post when I asked, “If the U.S. stopped issuing treasuries, would it go broke?” The short answer is…

In this post: A few thoughts about the limitations of government Our founding fathers How large should government be? How policy helps frame the debate Where we are headed In a recent post, “Stop the madness now!” I voiced…

After British chain WHSmith backed out of a deal with Borders, the British retailer, formerly a subsidiary of the U.S. megastore bookseller, is desperately looking to stave off bankruptcy and Chapter 7 liquidation. I love Borders and have…

This comes via Deal Book at the New York Times. The company’s chief executive, Fritz Henderson, called the repayment plan “a personal commitment.” The Obama administration, wardens of the 60 percent taxpayer stake in the company,…